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☆ Tupperware files for bankruptcy, citing ‘challenging’ economic environment
▼ + stars: | 2024-09-18 | by ( Ramishah Maruf | Olesya Dmitracova | ) edition.cnn.com time to read: +2 min

New York/London CNN —Tupperware Brands Corporation, whose food containers have been a mainstay in American kitchens, has filed for bankruptcy. “Over the last several years, the company’s financial position has been severely impacted by the challenging macroeconomic environment,” Laurie Ann Goldman, Tupperware president and CEO, said in a statement late Tuesday. Tupperware has historically only sold to consumers through so-called direct sales, most commonly at “Tupperware parties,” similar to cosmetic company Avon’s business model, and only began selling in Target in 2022. Many businesses file for bankruptcy protection to wind down some operations, shed debt and cut costs. A common route, also chosen by Tupperware, is Chapter 11 bankruptcy, which allows the company to solve its financial problems by restructuring.

Persons: ” Laurie Ann Goldman, ” Tupperware, Tupperware Organizations: London CNN — Tupperware Brands Corporation, “, Tupperware, Target Locations: New York, London, South Carolina

☆ Tupperware files for bankruptcy as its colorful containers lose relevance
▼ + stars: | 2024-09-18 | by ( ) www.cnbc.com time to read: +1 min

Tupperware products are offered for sale at a retail store on April 10, 2023 in Chicago, Illinois. Tupperware Brands Corp. and some of its subsidiaries filed for Chapter 11 bankruptcy protection on Tuesday, giving in to dwindling demand for its once-iconic food storage containers and mounting financial losses. The company's struggles resumed after a short-lived pandemic boost, when increased home cooking briefly drove demand for its colorful, airtight plastic containers. "Over the last several years, the company's financial position has been severely impacted by the challenging macroeconomic environment," Chief Executive Officer Laurie Goldman said in a press release. Tupperware has been planning to file for bankruptcy protection after breaching the terms of its debt and enlisting legal and financial advisers, Bloomberg reported on Monday.

Persons: company's, Laurie Goldman, Tupperware Organizations: Tupperware Brands Corp, Bloomberg, Bankruptcy, District of Locations: Chicago , Illinois, U.S, District of Delaware

☆ Tupperware picks Spanx veteran as new CEO
▼ + stars: | 2023-10-17 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +2 min

New York CNN —Tupperware Brands named consumer products veteran and former long-time CEO of Spanx Laurie Ann Goldman as its new CEO on Wednesday amid ongoing attempts to continue to survive as a business. In addition to her experience heading up Spanx for 12 years, Goldman also previously was CEO of Avon North America from August 2018 to August 2019. She was most recently CEO of OVME Aesthetics, a provider of medical aesthetics products and services prior to coming on board at Tupperware. Tupperware named Laurie Ann Goldman at its new CEO on Wednesday. Last October, in a massive shift in its business model, Tupperware rolled out its containers onto Target shelves nationwide.

Persons: Laurie Ann Goldman, Goldman, Miguel Fernandez, Tupperware, Sean Zanni, Patrick McMullan, Laurie Ann, ” Susan Cameron, “ Laurie Ann, It’s, –, – CNN’s David Goldman Organizations: New, New York CNN, Brands, Avon Locations: New York, Spanx, Avon North America, Tupperware, The Florida, Bath

☆ Tupperware preserves lessons for Mark Zuckerberg
▼ + stars: | 2023-08-25 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +3 min

REUTERS/Mike Blake (UNITED STATES - Tags: BUSINESS) Acquire Licensing RightsNEW YORK, Aug 25 (Reuters Breakingviews) - Tupperware Brands (TUP.N) is struggling to stop the rot. As much as technology has remade business strategies over the past 77 years, Facebook owner Meta Platforms (META.O) leans on a comparable one. Enter Brownie Wise, the saleswoman credited with pioneering the “Tupperware effect” of teaching women how to flog to their friends by hosting themed gatherings in their living rooms. Ironically enough, in the interim Tupperware also become the product of another modern network effect, a meme stock, or a highly speculative online investment. Tupperware has about a quarter of the active salesforce it did at the end of 2012, the same year Facebook bought Instagram.

Persons: Mike Blake, UNITED, –, Earl Tupper, Tupperware, Brownie Wise, Tammy Hembrow, June Cleaver, influencers, Jeffrey Goldfarb, Sharon Lam, Aditya Sriwatsav Organizations: Safeway Inc, Reuters, Tupperware, Meta, Pew Research, Facebook, Brands, Thomson Locations: Encinitas , California, Vons, Australian, Tupperware’s

Here are some charts illustrating what has changed, and what has not, in meme stocks. Data from JPMorgan illustrate how quickly sentiment can turn among individual investors, who have been among the key drivers of moves in meme stocks. Retail investors sold a net $852 million in single stocks in the past week. The Roundhill MEME ETF (MEME.P), which tracks the performance of a basket of meme stocks, is down about 55% from where it started trading in December 2021, though up about 38% for the year. A quick rise, often followed by a rapid descent, is a fate common to meme stocks of both the past and present.

Persons: Brendan McDermid, Marco Iachini, Vanda's, Iachini, Jonathan Krinsky, Tupperware, Saqib Iqbal Ahmed, Laura Matthews, Ira Iosebashvili, Jamie Freed Organizations: New York Stock Exchange, REUTERS, GameStop, Tupperware Brands, Corp, JPMorgan, Vanda Research, Retail, Global, Reuters, AMC Entertainment, Thomson Locations: New York City, U.S

☆ Retail investors flock to penny stocks WeWork, Amyris, Proterra
▼ + stars: | 2023-08-11 | by ( Medha Singh | ) www.reuters.com time to read: +3 min

The three penny stocks, up in the range of 40% to 120%, were the most actively traded U.S. shares at 10:45 a.m. Amyris (AMRS.O) and WeWork (WE.N) were the second and third most traded stocks by retail investors, respectively, while Proterra (PTRA.O) was twelfth on the list at 10 a.m. Some of the latest speculative bets on the penny stocks were pinned on hopes of a merger and acquisition or a turnaround for the struggling businesses. Another set of retail traders are looking to capitalize on the volatility, especially by squeezing bearish investors on highly shorted stocks. Last week retail traders had piled into shares of Tupperware Brands (TUP.N) and trucking firm Yellow (YELL.O).

Persons: Kate Munsch, Amyris, Proterra, WeWork, Lucas Mantle, AJ Bell, Russ Mould, Matthew Tuttle, Medha Singh, Shounak Dasgupta Organizations: REUTERS, U.S, Biotech, Vanda Research, Hertz, Tuttle Capital Management, Tupperware Brands, Thomson Locations: San Francisco , California, U.S, Bengaluru

☆ Stocks making the biggest moves midday: Amazon, Apple, Block, Tupperware and more
▼ + stars: | 2023-08-04 | by ( Alex Harring | ) www.cnbc.com time to read: +6 min

Apple reported earnings per share for the fiscal third quarter of $1.26, 7 cents more than expected by analysts polled by Refinitiv. The company posted adjusted earnings of $37.62 per share on revenue of $5.46 billion in the second quarter. Fortinet posted 38 cents in adjusted earnings per share, while analysts polled by Refinitiv expected 34 cents per share. Dropbox posted 51 cents in adjusted earnings per share, while analysts surveyed by Refinitiv anticipated 46 cents. The company reported adjusted earnings per share of 18 cents Thursday, topping the 10 cents expected from analysts polled by StreetAccount.

Persons: Tupperware, Carl Icahn's, Hindenburg, Jack Dorsey, Nikola —, Nikola, Fortinet, Refinitiv, Opendoor, DraftKings, Dropbox, Sprout, Raymond James, —, Samantha Subin, Hakyung Kim, Pia Singh, Michelle Fox, Yun Li Organizations: Apple, Refinitiv, Revenue, Holdings, Icahn, Fortinet, Technologies, Refinitiv . Revenue, Tagger Media, Exchange, Citi, StreetAccount, Petrobras —, JPMorgan Locations: U.S, Canada

A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 26, 2023. REUTERS/Brendan McDermid/File PhotoAug 4 (Reuters) - Shares of Tupperware Brands (TUP.N) surged 44% on Friday, after the kitchen storage container maker finalized a debt restructuring deal as it attempts a turnaround of its business, reinvigorating retail investors' interest in the company. It was the seventh most traded stock by retail investors at 10:00 a.m. The share gains were reminiscent of eye watering "meme stocks" rallies, where retail investors coordinate on social media and typically focus their speculative bets on companies that were financially struggling or had high short interest. Tupperware was the second most actively traded single stock by retail traders over the past week, according to a J.P.Morgan note.

Persons: Brendan McDermid, Tupperware, Bartosz, stocktwits.com, Peter Earle, Medha Singh, Savyata Mishra, Krishna Chandra Organizations: New York Stock Exchange, REUTERS, Tupperware Brands, American Institute for Economic Research, American, Corp, Thomson Locations: New York City, U.S, Florida, Bengaluru

☆ Stocks making the biggest moves premarket: Block, Tupperware, Nikola and more
▼ + stars: | 2023-08-04 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

AFP PHOTO / JEAN-FRANCOIS MONIER (Photo credit should read JEAN-FRANCOIS MONIER/AFP/Getty Images)Check out the companies making headlines before the bell Friday. The company reported earnings per share for the fiscal third quarter came at $1.26, above the $1.19 expected by analysts polled by Refinitiv. Block — Shares of the payments tech company slid more than 5% in premarket trading even after the firm reported second-quarter earnings and revenue above expectations. The company formerly known as Square reported earnings of 39 cents per share, beating expectations by 3 cents, according to Refinitiv. Amazon reported earnings of 65 cents a share, ahead of the 35 cents expected by analysts, per Refinitiv.

Persons: JEAN, FRANCOIS MONIER, Refinitiv, Nikola —, Nikola, Fortinet, DraftKings, Yun Li, Sarah Min Organizations: Tupperware Brands, AFP, Getty, Apple —, Refinitiv, Revenue, Holdings, Opendoor, Opendoor Technologies, StreetAccount Locations: Joue, France, AFP, Refinitiv, U.S, Canada

☆ Tupperware may not go out of business after all
▼ + stars: | 2023-08-04 | by ( David Goldman | ) edition.cnn.com time to read: +2 min

New York CNN —Tupperware was left for dead; a relic of a lost time when leftovers storage had but one dominant market player. In other words, Tupperware (TUP) has been given new life. Tupperware is still an extremely troubled brand, and the stock is still trading below $6 a share. Tupperware has been considering layoffs and property sales to stay afloat. Once sold exclusively by multi-level marketers, similar to Avon and Amway, Tupperware parties were a staple of a bygone era.

Persons: New York CNN — Tupperware, “, ”, Mariela Matute, aren’t, Tupperware, CNN’s Nicole Goodkind Organizations: New, New York CNN, Tupperware, ”, BlackRock, Amway, Target, New York Stock Exchange Locations: New York, Avon, noncompliance

☆ Tupperware shares soar on agreement with lenders to restructure debt
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +2 min

Various Tupperware containers are seen in this undated still image obtained from a video. Reuters TV via REUTERSAug 3 (Reuters) - Tupperware Brands (TUP.N) said on Thursday it has finalized an agreement with its lenders to restructure its debt obligations in an effort to turnaround its business, sending its shares soaring 57% after the bell. The agreement will help the company to reduce or reallocate about $150 million of cash interest and fees, and would give it immediate access to a revolving borrowing capacity of about $21 million. Known for its plastic airtight storage containers and bowls, Tupperware has seen a sharp drop in demand recently as consumers limit discretionary purchases amid higher prices and fears of recession. The agreement also paves the way for the extension of the maturity of about $348 million of principal and reallocated interest and fees to 2027 with payment-in-kind interest.

Persons: Tupperware, Ananya Mariam Rajesh, Granth Vanaik, Deborah Sophia, Arun Koyyur Organizations: Reuters, REUTERS, Tupperware, Moelis, Bed, Thomson Locations: Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. Home and kitchen product maker Tupperware Brands Corp's stock rose more than 32%, after sky-rocketing by more than 575% over the past seven sessions despite no material changes to the company's health. The original meme stock rallies, most famously, involved retailer GameStop and movie theater chain AMC Entertainment. Market orders from retail traders made up 17.6% of total market flows on July 31, up from a near six-month low of 14.8% on July 20, according to J.P. Morgan data. Roundhill's Meme index (.MEME) had hit a more than one-year high on Monday.

Persons: Brendan McDermid, Tupperware, JJ Kinahan, Kinahan, Nikola Corp, Morgan, Dan Raju, Raju, Medha Singh, Devika Syamnath, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Tupperware Brands Corp, Apollo Global Management, Tupperware, Revlon, Hertz Corp, IG North America, GameStop, AMC Entertainment, Corp, Nikola, Tesla, Thomson Locations: New York City, U.S, Bengaluru, Chibuike, New York

☆ Tupperware's stock extends recent rally, up 300% in 5 trading days
▼ + stars: | 2023-07-27 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +2 min

The stock gains have come despite signs earlier this year of problems for Florida-based Tupperware Brands Corp. Tupperware's stock on Thursday was also among the most watched tickers on retail-investor-focused Stocktwits.com, with an "extremely bullish" sentiment score. The sharp, unexplained gains echo those seen in Bed Bath & Beyond (BBBYQ.PK) before it filed for bankruptcy and other "meme" stocks known for their sudden popularity with retail investors. Also like other "meme" shares, Tupperware's stock is highly shorted. Even with the recent gains, Tupperware's stock is down about 30% for the year to date.

Persons: Caroline Valetkevitch, Susan Heavey Organizations: YORK, Tupperware Brands Corp, Moelis, Investors, Thomson Locations: Florida, Bath

Regional bank shares stretched gains from a rebound on Friday, with PacWest Bancorp (PACW.O) jumping 33% premarket after the company announced quarterly dividend. Shares of such banks tumbled for much of last week on worries tied to the collapse of First Republic Bank. ET, Dow e-minis were up 67 points, or 0.2%, S&P 500 e-minis were up 6 points, or 0.14%, and Nasdaq 100 e-minis were down 4.25 points, or 0.03%. Data on producer prices, weekly jobless claims and on consumer sentiment are all lined up through the week. On earnings, Warren Buffett's Berkshire Hathaway Inc's Class B shares rose 1.5% after the company posting a $35.5 billion first-quarter profit, reflecting gains from stocks such as Apple.

☆ Tupperware has been struggling for some time. These charts show how
▼ + stars: | 2023-04-23 | by ( Alex Leeds Matthews | ) edition.cnn.com time to read: +5 min

CNN —Tupperware may be on the verge of collapse, but the 77-year-old business’ potential demise isn’t necessarily a harbinger of worsening economic conditions. Some business experts say that’s because Tupperware has failed to adapt to changing consumer behaviors. The Tupperware brand name is so iconic that it’s become shorthand for all food leftover storage. That might be part of the problem, as other brands have emerged to compete against Tupperware, sometimes at lower price points. Tupperware has historically only sold to consumers through “direct sales,” most commonly at “Tupperware parties.” These parties were gatherings where people who enjoyed the product would demo and sell the Tupperware brand to their friends and acquaintances.

☆ Buffet breaks out of Japan’s value trap
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, April 12 (Reuters Breakingviews) - Berkshire Hathaway (BRKa.N) has upped its stake in iconic Japanese trading houses, according to an interview boss Warren Buffett gave the Nikkei newspaper on Tuesday. Worries that the nonagenarian was walking into Japan’s infamous “value trap” now look overwrought. The rise in global interest rates and the popping of the tech bubble have pushed funds back into the boring nuts and bolts companies Buffett loves. Given that the trading houses are themselves Berkshire-like investors, Buffett says he is open to doing deals with them, and investing more in Japan. The hedge funds and activist investors who have been banging their heads against Japan Inc might watch what Buffett does next.

☆ Inflation beds down, gets comfortable
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +2 min

Price growth is now fueled more by non-essentials, like air fares and new cars, than food and energy. That’s a problem, since those core prices are historically less volatile and therefore less likely to drop. As costs edge higher, Americans will probably have to endure a longer, and more expensive, inflation battle. Core inflation is now outpacing broader CPI by the widest margin since the pandemic began, signaling those sticky prices that rarely drop are playing a bigger part in keeping inflation high. High core inflation means the Federal Reserve will probably raise rates again next month, making money even more expensive for households and businesses.

☆ UAE telco super app punt uses Indian playbook
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +2 min

LONDON, April 11 (Reuters Breakingviews) - The United Arab Emirates is finding more strategic places to park its cash. The telecoms giant’s purchase follows a $4.4 billion investment in Vodafone (VOD.L) in May last year. It’s a way to advance an ambition, revealed last June, to be a technology and investment powerhouse. In a way, e& is following an investor playbook akin to that of India’s Reliance Industries (RELI.NS). The $192 billion Indian conglomerate has spent years acquiring music apps and other services in an attempt to cross-sell to its mobile customers.

☆ Electric cars get a reality check
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, April 11 (Reuters Breakingviews) - Regulators want to encourage electric vehicles by flattering them less. The U.S. Department of Energy has proposed tweaking a decades-old formula for calculating EVs’ fuel efficiency. The overhaul will lower electric mileage ratings – but could encourage automakers to ditch fossil fuels more quickly. Automakers must meet a minimum overall CAFE mileage; falling short results in penalties. GM and rivals already want to catch up to electric leader Tesla – and its $600 billion valuation.

☆ Gold miner’s mega $20 bln deal is not quite over
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +2 min

The boss of $40 billion U.S.-based gold miner Newmont (NEM.N) has sweetened his bid for Australian rival Newcrest (NCM.AX) after the latter rejected its two prior approaches. The latest $19.5 billion offer looks shinier but still faces some challenges. Under the revised proposal, Newcrest shareholders will receive 0.4 of a Newmont share for each one they hold, plus up to $1.10 via a franked special dividend. Newcrest shares closed nearly 10% below the offer price on Tuesday. Newcrest shareholders, who will own 31% of the merged company, also need to approve the deal.

☆ IMF dashes hopes of growth rebound
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, April 11 (Reuters Breakingviews) - The International Monetary Fund may have just hammered the final nail in the coffin of a complete economic rebound. With downside risks dominating its outlook, the IMF’s estimates dash any remaining hopes of a full recovery from recent years’ shocks. The shortfall between actual growth and expected growth reached 1 percentage point in 2022. Put simply, the world economy will probably never regain the growth trajectory it had before the pandemic and Russia’s invasion of Ukraine. That’s a harsh reversal from recent hopes of a V-shaped recovery and a soft landing.

☆ Tupperware Brands boxes itself into a corner
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +2 min

TORONTO, April 10 (Reuters Breakingviews) - Tupperware Brands’ (TUP.N) options are looking less airtight. As with other direct selling companies, it casts doubt over its business model, as well as how speedily it can remake itself as consumer habits shift. An earnings misstatement, which has left it late in filing its annual report, could cause creditors to declare Tupperware has violated its debt covenants. Even if Tupperware can appease its creditors or find new investors, the rise of e-commerce has dented the fortunes of companies that lean on direct selling. Compared with the company’s heyday, customers have more options for food storage, more places to buy from, and less time for Tupperware parties.

☆ Tupperware Engages Financial Advisers as Near-Term Liquidity Faces Pressure
▼ + stars: | 2023-04-08 | by ( Denny Jacob | ) www.wsj.com time to read: 1 min

Tupperware products became available in 1946 when chemist Earl Tupper first offered a plastic container with an airtight lid. Tupperware Brands Corp. on Friday said it engaged financial advisers to improve its capital structure. The food-storage container company said the advisers will assist in securing supplemental financing. Tupperware also said it’s reviewing its real-estate portfolio and is exploring right-sizing efforts, among other measures.

☆ Stocks making the biggest moves midday: Tupperware, Airbnb, Paramount, Estee Lauder and more
▼ + stars: | 2022-11-02 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +6 min

Estee Lauder — The cosmetic maker dropped 8% after it gave a weak outlook despite beating expectations for the quarter. Trimble — Shares dropped 7% after Trimble missed revenue expectations in its third-quarter results. Robinson — The stock fell 6% after the transportation and logistics company reported disappointing revenue in its latest results. Airbnb — The lodging stock fell 10.1% after the company reported earnings per share that beat expectations, while revenue came in line with estimates. The company it its fiscal first quarter reported adjusted earnings per share of 93 cents versus expectations of 75 cents.

☆ Tupperware wants to jump from grandma’s cupboard into the cool kids’ homes
▼ + stars: | 2022-10-22 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +5 min

New York CNNBusiness —Tupperware wants to be where the cool kids play. That means shedding its throwback to its Mad Men-era image, and positioning Tupperware products as buzz-worthy, high-utility and with an environmentally-friendly purpose. Another idea is to collaborate with a fridge manufacturer to have a line of refrigerators that come outfitted with Tupperware storage containers inside. Tupperware containers, in a way, also could be helping to also reduce food waste. “We’d like to think those were many meals that were stored in the fridge in Tupperware products.”

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